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quote would say you're allowed to avoid taxes not evade them. so they're taking full advantage of the rules as they interpret them. there are some outside surveillance lawyers who say it may raise interesting questions about lawfulness but on its face i don't see any evidence they're flouting the law.
, but the prospect of raising taxes remains a sticking point. >> simply taking more from the hard-working families of america just isn't the answer. i know my republican colleagues feel the same. so i want to say this from the get-go. if we look at this conference as an argument about taxes, we're not going to get anywhere. the way to raise revenue from our perspective is to grow the economy, to get people back to work. >> compromise runs both ways. while we scour programs to find responsible savings, republicans are also going to have to work with us to scour the bloated tax code and close some wasteful tax loopholes and special interest subsidies because it is unfair and unacceptable to ask seniors and families to bear this burden alone. >> ifill: the committee has until december 13 to hammer out an agreement. otherwise, the next round of cuts will kick in next year. we'll have more on this, later in the program. there's word that the national the deficit ran $680 billion -l last month. the first time red ink has fallen below a trillion dollars in five years. today's report said revenues rose by
's defiant day in court. what it's like to support a family of seven on $8 an hour. taxing marijuana in colorado and other initiatives on the ballot tomorrow. >> plus a trov of 1500 paintings looted by the nazis found in a munich apartment. >> ifill: today's insider trading plea by the hedge fund, s.a.c. capital advisers, was notable not just for its financial penalty but also for the prosecutors' pursuit of criminal charges against the firm. jeffrey brown takes a deeper look at the violations in question and what the case may suggest about the government's broader investigations into wall street practices. >> brown: steven cohen is not just any trader. he was one of the street's best known traders. and his firm was one of the more successful, with a record of returning 25% a year to investors. sheelah kolhatkar, a national correspondent at bloomberg businessweek has been chronicling this case and the world of hedge funds. she was at the press conference today and joins me now. both steve cohen were engaging in wrongdoing didn't have the evidence they needed. settlement of the charge
of the consumption tax will slow the economy and have stimulus to counter it will it work and the second is will they do a structural reforms, the third quiver of options are based, of economics, the structural forms that are necessary to really put more dine mitchell into the underlying economy .. >> rose: there is the question about the u.s. economy, if you look at 2013, are he they expecting growth to be right around two percent or 2.5? >> six percent next year. >> rose: 2014. >> 2014. i think most people, most forecasters have expected an acceleration towards the end of this year that would go into 2014, thus tar we haven't seen the figures and most recent figures are pretty disappointing, the government shut down, clearly played a role in that and slowed down the fourth quarter, the question is that going to continue and are we -- you know, is the acceleration that we think should be there, because the underlying ingredients weren't there are actually going to happen and so far, i don't see that much evidence of gliet so philip, what are the markets telling us? >> the markets have s
. >> the contributions were intended to help defeat governor brown's proposition 30 to raise taxes and pass the anti-labor measure proposition 32. they went to court before the november election pushing the group to disclose the true source of the contribution. she's now headed to washington d.c. to serve as president obama's appointee on the federal election commission. before thursday's settlement was announced, she spoke with scott shafer about the challenges of informing voters about the flood of money in today's political campaign. >> welcome to "newsroom." >> thank you very much. >> well, the fair political action commission, which you chair, or have chaired, was created after waterfwat. there was a lot of cynicism about politics. how do you feel you have made a difference under your tenure there to, you know, enhance trust or faith in our political system? >> the purpose of the ftpc was to enhance faith and trust. clearly a large percentage of americans do not feel that trust in government. we have made inroads, though, and i think we've provided much greater disclosure. we've shown the publi
is compounding the problem. >> it will pass to the customers over a billion dollars worth of taxes and fees associated with the affordable care act that need to go into pricing. >> reporter: divided among aetna's 22 million members, that's not much but some say there are other added costs. children covered on parents' plans until they are 26 and protections for preexisting conditions. >> the analogy would be your house starts to burn. you call the insurance company immediately and say i would like household insurance. they say okay, sure. >> reporter: even employers say much of the increases are simply the result of rising health care costs and more people using health care. factors that at least for now have nothing to do with obama care. scott cohn, "nightly business report." >>> here to talk more about the changing landscape of health insurance is greg, assistant professor of management at northwestern university kellogg school of management and specializes in health care. good to have you with us. i assume you heard scott's package there. i want to get your best guess, estimate of how m
to the cuts in the sequester and higher tax revenues, the budget short fall for 2013 $2013 is $680 billion, lowest since 2008. >>> coming up, cities that have one or two days of cash on hand left. the ramifications coming up but first, a look how international markets faired today. >>> the buckle of the day where we start tonight's market focus and why not on this halloween? far su pharmaceuticals ariad after it stopped an on going trial of the medicine over safety concerns. the stock down almost 45% today and look at this next chart, down 88% for the month. >>> and ding dong, avon falling, the shares tanked after they reported a big earnings miss. a drop in north american sales and emerging markets threatened the turn-around plan. the door to door warned numbers will be hurt by larger than expected fine by the fcc to settle a bribery probe. the stock dropped 22% today to $17.50. >>> "the times" reporting a net loss after selling "the boston globe" and set a decline on online ad sells. the stock is up 62% so far this year. >>> expedia stocks soared after the company reported quarterly prof
they have to bring it back from over seas and pay tax on it. does that tell you anything if they borrow to buy? >> yeah, i've seen that a lot and i think the match shows that that can make sense and again, that's an issue with the tax code. it -- i don't necessarily agree with some of the tax policies that we have for patrioting of cash but with those costs to bring back in money from the united states, it certainly can make sense to borrow and buy back. >> we'll leave it there. thank you for your thoughts. tim courtney. >>> and some more trouble at jp morgan chase. the u.s. justice department and securities exchange commission are looking into the hiring practices at jp mogen at hong kong offices. relative of chinese party officials got jobs there and the bank said in a regulatory filing that several u.s. government agencies requested information about the foreign exchange trading business and whether employees were rigging the market. >>> jp morgan chase isn't alone. citi group, the bank that conducts the most international business revealed that federal investigators are looking into
. >> why did the revenue hit bottom later? >> it's a function of the property tax. the property values are still struggling, as well as the lag in assessed values and in addition to that, the state and federal aid was also cut during that time, as well. >> you know, i was is surprised to see cities like chicago, new orleans on this list very close to running out of cash over the next couple days. is it possible they could become the next to detroit and go banks result? how bad is the situation? >> they aren't necessarily running out of cash. what the studies measured was the fiscal cushion they had. the reserve funds or rainy day funds they had to cope with emergency. that said, they are still struggling but bankruptcies are very rare. i don't think you'll see chicago or louisiana, shreveport, louisiana become the next detroit. it's something that most municipalities try to avoid. >> i read in the article they recommended that fresno for example should ideally have something like 10 million dollar in an emergency found. what is the typical cushion a city you would recommend should have
's where local coalition building comes in. at the county level you can do document fees and transfer taxes and you can get labor together with the affordable housing folks, people interested in parks and open space and come up with a coalition of folks to put a measure, you know, on -- in your county that might be a transfer tax that could be divided up among the various uses. i think those local coalitions can be strong in passing getting you to the 66% threshold. >> it is a dilemma, though, right, because we need growth. we need developments for jobs, for economic stimulation but then there are always those sectors that have opposition because of environmental concerns, how do you -- how do you compromise and move beyond all that? is it purely a policy issue? >> well, a lot is policy driven by san francisco is trying a few creative things that might be able to be replicated elsewhere. one is a pirates project to legalize inlaw units. they are existing units so many places in san francisco have a basement or backyard garage converted into an apartment. they are there and if they were lega
says the cost will drop $2,300. and that's before any subsidies, depending on income and tax credit. here it is verbatim. middle class families purchasing private insurance in the new state-based health insurance exchanges could save as much as $2,300 per year in 2014, unquote. >> question, that promise of the $2,300 drop materialize next year, mort? >> all i can tell you is everybody in my company got a notice that their payments were going up and going up dramatically and they just got them yesterday in response to that bill. i can't talk for americans, all i can tell you in my own company is what happened and i think that is a disgrace for what this program is going to imply for a lot of american families. >> chris. >> the 5% that eleanor keeps referring to is the reality, 5% couldn't keep what they had are junk policies, which don't cover hospitalization. deductions of $15,000. so if you get serious illness, you have to pay it out of pocket. sure it will reach that $2300 measure. reduction of what you have to pay when the insurance policy doesn't cover your problems. >> p
, increase taxes. ken cuccinelli: create jobs, cut taxes. to stop obamacare and higher taxes, there's only one choice. >> reporter: unlike his rival, mcauliffe supports expanding medicaid under the affordable care act. he says accepting the federal aid would help more virginia residents obtain coverage and benefit the state's economy. >> when we know that 400,000 virginians could gain health care access by accepting the medicaid expansion, we must act. ( applause ) that is virginia money coming back to virginia, and it will create 30,000 new jobs. >> reporter: cuccinelli refuted that claim at last week's final candidate debate. >> he pretends to get $500 million out of the medicaid expansion, which he's called a jobs program. folks, it's welfare, it's not a jobs program. >> reporter: the mcauliffe campaign, meanwhile, has charged republican cuccinelli is outside the mainstream of virginia voters, especially when it comes to women's health issues such as abortion rights and access to contraception. >> let me be crystal clear, i trust women to make their own decisions about their own persona
, embezzlement. each exposed the problem by checking a box on the tax form indicating what's called a significant diversion of funds. for more on this, we're joined in washington by chris stevens. he's the co-author of today's piece. your article says just the ten largest losses you've identified out of $500 million. give us some examples. >> that's right, almost half a billion dollars. they're all across the board, all kinds of non-profits in major amounts. the potential loss we had was this one and they got caught up in the bernie madoff ponzi scheme, which is pretty famous. a lot of non-profits got caught up in that and lost tens of thousands of dollars to that ponzi scheme. so that was a major sense of losses. however, there are a lot of large losses from different scams and schemes. there is the global fund to fight aids. they had a problem. they found tens of millions of dollars had gone missing through a whole range of financial problems. they're working on getting some of that money back. there are jewish material claims against germany which it pays republic ration of the sort. he was in
and medicare. but i think he needs something more in taxes than the republicans are prepared to give. so my guess is that you won't see that. but it does have me very concerned. these are openly on the table. and you look at the condition of today's elderly, i think you're really hard-pressed to say that they have too much money. i mean, for 40% of people over age 65, their social security check is more than 90% of their income. and these are checks that average a little over $1,200 a month. so to say that these people are doing so well, we should be looking to cut back their benefits or have them pay more for medicare, that to my mind seems 180 degrees wrong track. >> i think to put it more bluntly, no one is willing to talk about the fact that social security and medicare cuts equal having old people die faster. and that the proposals to do that are indirect and they've labeled them in technical language so that most people won't realize that's what's happening. i mean, chained cpi, you know, that's a my-eyes-glaze-over term. >> consumer price index? >> right, and so that's the mechanism
tax? are there any legislative changes that might now be considered? >> i think those sorts of things might come up in the budget negotiations which actually began this week. we haven't seen a conference committee in a long time. we actually saw one. but i don't think that things like that are going to be put on the table in the middle of just trying to get this working. gwen: final. >> i think that the administration is going to continue to try to give these updates, that incrementally every day things are getting fixed and hope that that turns out to be the truth. gwen: we'll be watching it. because that's what we do. thanks to both of you. now, another look at the rapidly accumulating evidence that very little you communicate or that the german chancellor communicates for that matter is really private. the latest drip, drip, drip from former n.s.a. contractor edward snowden suggests that the nation's biggest tech companies are being breached, too. and as far as we know, it's all legal. is that right, tom? >> well, that's being debated. and i'm not a lawyer. so i sort of deal with t
. it was affecting him these last couple of years. he had heard a tax several major surgeries. his schedulers started trying to make it easier, quicker and more concise. so looking back peter baker it's impossible to talk bay legacy so soon after this presidency ended but if you had to, what would you say it is? >> well, i mean, i think obviously iraq is going to be the central issue. i think what president bush would like to say is he protected the country and vice president chaney would like to say that as well. and they did get through the rest of their term without a major tack in america, something they will always be able to talk about. but iraq hovers over everything. all the other things he wanted to do medicare part d which he expanded, coverage of drugs. aids program,. all these things might have been the pieces of a very shallow legacy that iraq overshadows in so many ways. >> peter baker, the book is days of fire. brush an cheney in the white house. thank you very much. >> thank you, appreciate it. >> ifill: we close with a look back at the life of singer- songwriter lou reed, who died ye
to an unshakeable fate in free marks and typically towards market regulation and conviction that progressive taxes and social spending are to blame for slow growth, stagnant wages and exploding deficits. those who have followed his career know that it was greenspan who gave the green light to bank consolidation, greenspan who put financial deregulation, greenspan who advocated global rules that would reduce capital reserves and greenspan who blocked efforts to crack down on awe bossive sub-prime lending. but if you're looking for him to accept any responsibilities for the crises that ensued, you will be sorely disappointed. >> i suggest that people read the book and conclude themselves what they think about that. >> rose: thank you for coming. >> my pleasure. >> rose: alan greenspan. the book is called the map and the territory, risk, human nature and the future of forecasting. back in a moment. stay with us. >> i thought a lot about what was i put on earth to do, you know. what was my calling. what should i do, right. and i was lucky because i had lots of options. we'd been working in health an
as a corporate tax dodge, basically. it's if you're a high earner, you're going to put some of your money aside. nobody ever thought that this was going to apply to the rest of us. i mean, there was never any thought of that. >> smith: so not quite by design, a new retirement system was born. (traders yelling) big brokerages and banks saw an opportunity to expand their business and helped employers set up and run their new plans. they promoted the arrangement as a win for everyone. >> from the individual perspective, the 401(k) actually opened up the opportunity to save for retirement for many individuals who worked for businesses that didn't have a pension. and it also allowed them to have a portable, vested amount of money that they could take with them, as americans started changing jobs more frequently. >> smith: it's as simple, though, isn't it, as the businesses decided to get out of the business of providing pensions and shift the burden to employees? >> i would express that more as a sharing of the responsibility for retirement between employers and employees. >> smith: but while some e
. telecom, education, tax reform, political reform and energy reform. they say not even the best bullfighter does it with five bulls at a time. >> rose: no bullfighter could do that. >> two is a lot. one is enough. >> rose: suppose trade. speak to me about trade, mexico trade, u.s. mexico and trade. >> it's huge. you see that's why the border with the u.s. is so important for mexico and the u.s. there's much more going on than this drug thing. >> rose: exactly. >> $400 billion in trade a year. i mean it's human. people said well mexico's going to take all these drugs. you know, lots of companies have invested in mexico from the u.s. to mexico and from mexico to the u.s. and basically what's happening now that the location of mexico, the same zone as america has given as much advantages as china. you have your outsourcing in mexico like in china and india. it's the same time zone. you can fly from new york to mexico city under four hours. >> rose: is china or the united states mexico's largest trading partner. >> u.s. by par. >> rose: who is second? i don't mean to put you on the spot.
Search Results 0 to 32 of about 33 (some duplicates have been removed)